Macedonias Sparkasse Banka turns to H1 net profit of EUR 0.4mn.

By bne IntelliNews August 27, 2012
Medium-sized lender Sparkasse Banka Makedonija reported a net profit of MKD 21.6mn (EUR 0.4mn) in H1, reversing a net loss of MKD 212.3mn recorded a year earlier, according to the income statement published on the website of the securities and exchange commission. The interest income increased 9.3% y/y to MKD 521.7mn in H1, while the interest expenses grew 6.5% y/y to MKD 228.5mn. The lenders net interest income thus expanded 11.6% on the year to MKD 293.2mn over the period. The net fee and commission income rose by 15.6% y/y to MKD 53.8mn in H1. The impairment losses narrowed by 72.6% y/y to MKD 78.9mn in the first half of this year. Austria's Steiermarkishe Bank und Sparkassen AG owns a stake of more than 99% in the Macedonian bank. The total assets of the local lender have dropped by 3.2% ytd to MKD 16.76bn as of end-June. On the other hand, the lenders equity has expanded by 76.9% ytd to MKD 2.17bn at end-June, mainly due to a MKD 921mn capital increase completed in February and funded by the Austrian parent.
Notice: Undefined index: social in /var/www/html/application/views/scripts/index/article.phtml on line 259

Related Articles

Macedonias 2013 tobacco crop expected to exceed 30,000 tonnes.

Macedonias tobacco crop is expected to increase by 20% to over 30,000 tonnes in 2013, Utrinski vesnik daily reported quoting Danco Mileski, president of the countrys tobacco association. The ... more

Macedonia cancels tender for gas distribution network feasibility study.

The transport ministry has cancelled the tender for preparing a feasibility study for developing the countrys natural gas distribution network, portal reported. Reportedly, two bids were ... more

Komercijalna Banka wins Global Finance award Best Bank in Macedonia for 2013.

Large-sized commercial bank Komercijalna Banka announced that it has won the award Best Bank in Macedonia for 2013 by the magazine Global Finance. The Macedonian bank wins the award for a 10th ... more